Why is the United States not much of a Capitalist country these days?
In terms of the most capitalist countries in the world, the United States doesn't even reach the top 10.
It seems too resistant to change to be able to thrive as a capitalist nation, but why is that?
I've also noticed that the Liberals in the US tend to do things that will benefit Capitalism but preach about how terrible it is and how great socialism and communism is. But then the conservatives are praising capitalism, but stick to their old ways and limits people's opportunities to thrive in the United States directly contradicting the purpose of capitalism.
That's also really confusing to me.
I'm not saying the US is not a capitalist country. I'm saying that it's not as successful of a capitalist country as it could be. Economically and socially.
random_man - to answer your question. The criteria that I state the US is not reaching the top 10 in terms of capitalism is under the private property rights that are so vital to capitalism.
It's also due to the market laws of the country compared to others and also attitude towards maximising benefits of capitalism. That's the criteria.
- okiknowitLv 72 months ago
Capitalism is a 17th-20th century phenomenon. It doesn't really exist here today. The minute an area became civilized, they started enacting taxes and regulations to control and stabilize the economy. Today almost all countries, have a Mixed Free Market Social Democracy. The differences between the economies of China, Norway, the US, and Egypt involve only the degree of interference with the economy and the robustness of the social safety net.
Note also that Adam Smith said that corporations are collective and not capitalist. He said about them that they cause "chaos and confusion to reign." Only small businesses or partnerships of men who also manage the company are capitalist.
- random_manLv 72 months ago
Of course the US is a capitalist nation. That's not even a question in my mind. You say it doesn't "reach the top 10" - in what criteria?
- socialistpbLv 62 months ago
Of course the US is capitalist: a tiny minority own the means of production, most people have to work for a wage, production takes place to make a profit.
- OiyLv 62 months ago
The US is not a capitalist country( Richard Wolff). It is not even a democratic country. It has ruled by a small group persons called employer. The rest is a majority who just work and produce more than the wages. 50% of the economy has controlled by the government as a sole generous buyer of military equipment. Friedman has even said that the US has the biggest government in the world. And he needs to fight to reduce it. That is not surely a capitalist country like former Hong Kong.
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- .Lv 72 months ago
I think the U.S. has gravitated toward larger enterprises (corporations) and these have been hijacked by corruption, religion, and the nanny state.
They worked like a team (in war and peace), but their teamwork and compliance have been violated by cheating at a high level.
This is unlike China, which has gravitated more to micro-industries and their cocooning has paid off and also shown resistance to the corruption of the big state on the macro level. The micro level is where it's at, in terms of survival and real prosperity, as it is more immune from the big rip-offs.